World gold price at the beginning of the day hovered around 1,943.4 USD/ounce, down nearly 4 USD compared to yesterday. Today, the July US personal consumption expenditures (PCE) index was announced to increase by 0.2% month on month, in line with the increase in June. Over the past 12 months, through July, PCE up 3.3% after rising 3% in June.
In addition, the number of Americans applying for unemployment benefits for the first time fell by 4,000 to 228,000, lower than the four-week average of 237,500.
Bob Haberkorn, senior market strategist at RJO Futures, predicts that the above economic data could mean that the Federal Reserve (Fed) will be able to pause raising interest rates early next year.
Earlier, data showed the US economy grew at a slower-than-expected pace in the second quarter of 2023, with less-than-expected private sector job gains in August and confirmed job openings. Lowest in 2 quiet years in the same period.
In addition, the number of Americans applying for unemployment benefits for the first time fell by 4,000 to 228,000, lower than the four-week average of 237,500.
Bob Haberkorn, senior market strategist at RJO Futures, predicts that the above economic data could mean that the Federal Reserve (Fed) will be able to pause raising interest rates early next year.
Earlier, data showed the US economy grew at a slower-than-expected pace in the second quarter of 2023, with less-than-expected private sector job gains in August and confirmed job openings. Lowest in 2 quiet years in the same period.
✅TP1: 1938
✅TP2: 1945
🚫SL: 1921